Alterna Wealth Management Inc. Lowers Position in Invesco QQQ (NASDAQ:QQQ)

Alterna Wealth Management Inc. decreased its position in shares of Invesco QQQ (NASDAQ:QQQ) by 58.0% during the third quarter, according to its most recent filing with the SEC. The firm owned 2,943 shares of the exchange traded fund’s stock after selling 4,065 shares during the period. Invesco QQQ comprises about 1.3% of Alterna Wealth Management Inc.’s holdings, making the stock its 23rd largest holding. Alterna Wealth Management Inc.’s holdings in Invesco QQQ were worth $1,436,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. New Covenant Trust Company N.A. bought a new stake in shares of Invesco QQQ during the 1st quarter valued at $28,000. Mechanics Financial Corp bought a new stake in Invesco QQQ during the second quarter worth about $30,000. Chelsea Counsel Co. purchased a new stake in Invesco QQQ in the first quarter worth about $40,000. CGC Financial Services LLC increased its stake in shares of Invesco QQQ by 736.4% during the second quarter. CGC Financial Services LLC now owns 92 shares of the exchange traded fund’s stock valued at $44,000 after purchasing an additional 81 shares in the last quarter. Finally, CarsonAllaria Wealth Management Ltd. lifted its holdings in shares of Invesco QQQ by 30.4% during the first quarter. CarsonAllaria Wealth Management Ltd. now owns 103 shares of the exchange traded fund’s stock valued at $46,000 after purchasing an additional 24 shares during the last quarter. Institutional investors own 44.58% of the company’s stock.

Invesco QQQ Price Performance

Shares of QQQ opened at $486.01 on Tuesday. Invesco QQQ has a 52 week low of $366.91 and a 52 week high of $503.52. The business’s 50 day moving average price is $482.01 and its 200-day moving average price is $469.55.

Invesco QQQ Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Monday, September 23rd were paid a $0.677 dividend. The ex-dividend date was Monday, September 23rd. This represents a $2.71 dividend on an annualized basis and a dividend yield of 0.56%.

Invesco QQQ Profile

PowerShares QQQ Trust, Series 1 is a unit investment trust that issues securities called Nasdaq-100 Index Tracking Stock. The Trust’s investment objective is to provide investment results that generally correspond to the price and yield performance of the Nasdaq-100 Index. The Trust provides investors with the opportunity to purchase units of beneficial interest in the Trust representing proportionate undivided interests in the portfolio of securities held by the Trust, which consists of substantially all of the securities, in substantially the same weighting, as the component securities of the Nasdaq-100 Index.